Despite a slight pullback in the USDJPY price movement, the long-term bullish trend remains intact, supported by strong technical indicators demonstrating a positive bias. Both the Zigzag indicator and Moving Average (MA) continue to provide bullish signals, suggesting that this correction is more of a temporary setback and does not change the main trend direction. As long as the price holds above the key support level, there remains significant potential for further upside, especially if it can break through tested resistance levels.
Additionally, the MACD indicator reinforces the bullish outlook by showing positive convergence, with the MACD line positioned above the signal line and trending into positive territory. This indicates that the momentum for further increases is still robust and may continue. With multiple technical indicators supporting this view, USDJPY is positioned to continue its upward trajectory, testing higher resistance levels in the near term.
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On the 15-minute timeframe, the combination of signals from the Moving Average (MA) and Commodity Channel Index (CCI) suggests potential gains for USDJPY. The upward-moving MA line indicates a still-strong short-term bullish trend, while the CCI above level 100 shows that buying momentum remains dominant. These two indicators support each other, suggesting that the potential for USDJPY’s price to rise remains open as long as it trades above significant support levels. If the price successfully breaks through the nearest resistance, the chances of continuing the bullish movement increase.
Technical Reference: buy while above 145.965
Potential Take Profit 1: 148.095
Potential Take Profit 2: 148.485
Potential Stop Loss 1: 146.365
Potential Stop Loss 2: 145.965
